National Assembly approves adding birthplace info to new passports
HCMC – The National Assembly, the legislature of Vietnam, today, November 15, adopted a resolution that allows the addition of the place of birth (POB) field to new Vietnamese passports. In early July this year, the immigration department of the Ministry of Public Security began issuing brand-new
Steel industry woes may last until mid-2023
HCMC – Steel output and consumption have plunged in recent months, and the situation is predicted to linger until the second quarter of next year. The Vietnam Steel Association said in its latest report that output of finished steel products in October had slid 16.38% month-on-month and 28.7%
G20 Summit starts, discusses how to recover together
BALI – In his opening remarks at the Group of 20 (G20) major economies summit on Tuesday morning, November 15, on the tourist island of Bali, Indonesia, Indonesian President Joko Widodo said people are responsible for collaborating to save the world and mend the global economy. “We have no option.
Can Tho plans to import sand for expressway project
HCMC – The Mekong Delta province of Can Tho plans to import sand from Cambodia due to an inadequate supply of the material for the Chau Doc–Can Tho–Soc Trang expressway project. Last weekend, Deputy Minister of Construction Le Quang Hung worked with the provincial governments of Can Tho and Hau
High logistics costs erode competitiveness of Vietnam businesses
HCMC – High logistics costs have made the Vietnamese economy less competitive. According to Le Quang Trung, vice chairman of the Vietnam Logistics Business Association, import-export businesses are grappling with increasingly high logistics and transport costs. The cargo shipping time has
Vietnam rice prices gain top spot on global markets
HCMC – The export price of Vietnamese rice stands at the highest spot on global markets, some US$20-50 per ton higher than the rice prices of Thailand and India. In October, Vietnam’s 5% broken rice sold for US$425-430 per ton on average on global markets, the highest since last November,
F88 secures US$60 million loan
HCMC – Personal financial service provider F88 has secured a loan worth US$60 million, or nearly VND1.5 trillion, from two international financial organizations. Of the total, US$50 million is borrowed from CLSA Capital Partners via Lending Ark Asia Secured Private Debt Funds, and the balance from
HSBC supports Vietnam for sustainability goals
HCMC – HSBC Vietnam and the Ministry of Natural Resources and Environment have signed a memorandum of understanding (MOU) to collaborate on the Environment, Social and Governance (ESG) agenda. Under the MOU signed on the sidelines of the ongoing 27th United Nations Climate Change Conference of the
Banks offer high rates to attract demand savings
HCMC – With the ratio of current account, savings account (CASA) having dropped sharply in the last nine months, many banks have raised interest rates for demand savings and deposits to attract more cash since the State Bank of Vietnam (SBV) recently hiked key interest rates. The CASA ratio is
Transport Ministry moots shortening toll collection period for Highway 51
HCMC – After 15 rounds of negotiations, the Department for Roads of Vietnam under the Ministry of Transport and the investor have yet to agree on when to stop toll collection on National Highway 51. Under the project agreement, the estimated toll collection period would last 20 years and six
HCMC businesses to recruit 43,000 workers in run-up to Tet
HCMC – The demand for new employees in HCMC is estimated to reach 43,000 in the last two months of this year, said Nguyen Van Lam, deputy director of the HCMC Labor, Invalids and Social Affairs Department. Job vacancies are mainly in the commerce-service and consumer goods fields, textile,
Vietravel Airlines launches its first int’l air service
HCMC – Local carrier Vietravel Airlines began offering tickets for regular international flights on its first international route linking Hanoi/HCMC with Thailand’s Bangkok from 11 a.m. today, November 11. The flights operated by the carrier on the Hanoi/HCMC-Bangkok route are scheduled to take